The Loan Syndications and Trading Association (LSTA) defaulting lender provisions were released in 2011 in the aftermath of the 2008 Financial Crisis. Some 12 years later, recent distress in the banking sector has thrust...more
On Jan. 3, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) (collectively, the “Agencies”) issued a statement on...more
On Nov. 18, 2021, federal bank regulatory agencies approved a final rule requiring banking organizations to notify regulators of “any significant computer-security incident” as soon as possible and no later than 36 hours...more
On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations...more
The change in administration that will take place on Jan. 20, 2021, will likely have significant consequences for leveraged lending market participants. The relatively “soft touch” regulatory approach taken by federal...more
On Dec. 16, 2020, the U.S. Government Accountability Office (the GAO) issued a report to the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Department of the Treasury, the...more
On March 22, 2020, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (the NCUA), the Office of the Comptroller of the...more
On March 6, 2020, the Alternative Reference Rates Committee (ARRC) convened by the Federal Reserve Board and the Federal Reserve Bank of New York released a proposal for New York State legislation that is intended to reduce...more
On Feb. 6, the Federal Reserve Board released the hypothetical scenarios for the 2020 stress test exercises, which ensure that large banks have adequate capital and processes to continue lending to households and businesses...more
On Jan. 31, 2020, the board of governors of the Federal Reserve System (the Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC, and together with the...more
The FDIC Fall 2019 edition of Supervisory Insights contained an article entitled “Leveraged Lending: Evolution, Growth and Heightened Risk”. In the article, the FDIC noted that the credit agreement terms have continued to...more
On Dec. 19, 2019, the Financial Stability Board issued a report titled “Vulnerabilities Associated with Leveraged Loans and Collateralised Loan Obligations”. The Financial Stability Board (FSB) coordinates at the...more
On Nov. 15, 2019, the Board of Governors of the Federal Reserve (the “Board”) released its semiannual Financial Stability Report. The report presents the Board’s current assessment of the resilience of the U.S. financial...more
11/20/2019
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Consumer Financial Products ,
Debt Market ,
Economic Impact Analysis ,
Economic Reform ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
FRB ,
GDP ,
High Yield Bonds ,
Lenders ,
Leveraged Finance ,
Leveraged Loans ,
Loans ,
Mutual Funds ,
Regulatory Oversight
Federal Reserve Board of Governors Chairman Jerome H. Powell, in remarks made yesterday in Amelia Island, Florida, at the 24th Annual Financial Markets Conference, sponsored by the Federal Reserve Bank of Atlanta, stated that...more
On Feb. 27, 2019, Federal Reserve Chairman Jerome Powell, during testimony before the House Financial Services Committee, was asked by Representative Gregory Meeks (D-NY, 5th District) whether the Federal Reserve “believes...more
The Financial Stability Board (FSB), an international body established in 2009 to implement and promote effective regulatory, supervisory and other financial sector policies, issued its most recent annual Global Monitoring...more
On Jan. 25, 2019, the board of governors of the Federal Reserve System (the Federal Reserve), the Federal Deposit Insurance Corporation (the FDIC) and the Office of the Comptroller of the Currency (the OCC, and together with...more
On May 24, 2018, Joseph Otting, the comptroller of the currency, the principal regulator of all national banks, announced in a telephonic press conference that he does not expect that the Office of the Comptroller of the...more